Teck Resources settles $285/tonne benchmark coal price for Q1 2017

Reuters Staff

1 Min Read

Dec 12 (Reuters) - Teck Resources said on Monday it has reached agreement with major customers on a benchmark price of $285 a tonne for the first quarter of 2017 for its highest quality steel-making coal.

Canada-based Teck, the world’s second-largest seaborne exporter of steelmaking coal, also said it has ratified new five-year collective agreements with unionized employees at its Fording River and Elkview coal mines in British Columbia. (Reporting by Nicole Mordant in Vancouver; Editing by Chizu Nomiyama)